Advanced Biofuel Market

Global Advanced Biofuel Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Advanced Biofuel Market was worth US$ 7,465.0 Mn and is expected to grow at a CAGR of 8.7% over the forecast period. While the historical CAGR is 7.8%, the market is expected to hit US$ 17,192.0 Mn by 2032 end.

“Advanced biofuels” refers to fuels produced from various biomass, including municipal, agricultural, and other wastes. The term “second-generation biofuels” is also used. It is more difficult to obtain the necessary fuel from these biofuels since they are derived from woody crops or lignocellulose biomass, sugars, non-starches, and agricultural waste.

Market Dynamic

THE DEMAND FOR CLEANER ENERGY SOURCES DRIVES THE MARKET

Increasing demand for cleaner energy sources to minimize carbon emissions is one of the main driving factors for the global market for advanced biofuels. The need for advanced biofuels has grown due to the measures taken by various governments. The development of the market for advanced biofuels has also been impacted by the use of biofuels in the automotive sector.

LACK OF AWARENESS IMPEDES THE MARKET

Lack of knowledge about the benefits offered by using advanced biofuels is a major market restraint for the global market for these fuels. Only a few countries have adopted biofuels as a result of this ignorance.

Market Segments Covered in Report

By Processing Technology:

• Biochemical Process
• Thermochemical Process

By Raw Materials:

• Energy Crops
• Municipal Solid Waste
• Green Waste
• Others

By Type:

• Cellulosic Biofuel
• Biodiesel
• Bio-Butanol
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is the Bio-Butanol Segment considered to be the Primary Market Concern?

Biofuels are increasingly being used as a motor fuel; bio-butanols are anticipated to have the biggest revenue share. It is due to the use of raw materials from algae with a high yield and the enormous potential of bio-Butanols to reduce greenhouse gas emissions.

Why is Municipal Solid Waste being used as a major raw material source?

The main source of lignocellulose feedstock for advanced bioenergy is municipal solid waste and agricultural and forestry waste, grasses, and algae. These plants are little maintenance and may grow in wastewater. And in recent years, the manufacturing of sophisticated biofuels from energy crops has increased.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• North America dominates the advanced biofuel market, with a 8% market share, thanks to rising demand for cleaner-burning transportation fuels, particularly in the United States. In addition, the target industry is anticipated to have significant growth shortly due to big players in the area and tactics executed by the major companies in North American countries.
• Asia Pacific is projected to have the CAGR that stands out due to growing awareness of the use of advanced biofuels in emerging economies

Competition Analysis

Players actively increase production capacity and engage in acquisitions, mergers, and R&D activities to strengthen the market position.

The key developments in the Global Advanced Biofuel Market are:

• In June 2019, the pioneer in bio-based chemicals, Genomatica, stated that it had acquired some of the assets of Renewable Energy Group Inc.’s REG Life Sciences subsidiary. The main source of advanced biofuels in North America is REG Life Sciences. Genomatica will create new, useful products using the assets it has acquired.
• In June 2019, A team of multinational scientists created the scarification technique. Single sugar components are produced as a result of this process, and these components are further divided into bioethanol and biobutanol. The procedure is a two-step procedure for more effectively separating carbohydrates into sugar components.
• In June 2019, A measure that would allow master limited partnerships to be used by investors in renewable energy projects was introduced in the state of the USA (MLA). MLPs are business structures taxed as partnerships but have ownership interests that are traded on the market like stocks of corporations. Investors in energy portfolios for oil, natural gas, coal, pipeline projects, and extraction were the only ones who could purchase MLPs in the past.

A list of some of the key suppliers present in the market are:

• Fujian Zhongde Energy Co. Ltd.
• DuPont Danisco Cellulosic Ethanol LLC
• Bangchak Corporation PCL
• POET-DSM Advanced Biofuels LLC
• Clariant AG
• Targray Technology International Inc.
• Sundrop Fuels Inc.
• INEOS Group Ltd.
• Gevo Inc.
• Blue Marble Biomaterials (formerly Blue Marble Energy)

Global Advanced Biofuel Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies